The entire Big Sur coastline has been evacuated by a fire one official calls “a big raging animal.” Tonight we’ll update the statewide crisis and ask what it’ll mean when fire season really gets under way. San Francisco--the “sanctuary city”—has been deporting undocumented juvenile convicts without telling federal officials. The Mayor wants to run for Governor. Will immigration politics get in his way? On Reporter’s Notebook, will IndyMac Bancorp of Pasadena—a national housing lender—go the way of Countrywide?
FROM THIS EPISODE
For nearly a generation, San Francisco has been escorting undocumented juvenile convicts back to their home countries or taking them to San Bernardino County. Because San Francisco calls itself a “sanctuary city,” it doesn’t notify Immigrations and Customs Enforcement, or ICE. That was reported yesterday, the same day that Mayor Gavin Newsom announced that he’s running for Governor.
Because of the sub prime lending crisis, Countrywide, the big lender in Calabassas, is now owned by Bank of America. Now another national powerhouse—IndyMac Bancorp of Pasadena—is in big trouble. New York’s Democratic Senator Charles Schumer—chair of the Joint Economic Committee—set off a minor panic when he warned that IndyMac “could face a failure if prescriptive measures are not taken quickly.”
Mark Lacter, Business Writer, LA Observed